EURGBP - CONSOLIDATES AFTER BREAKOUT RUNSymbol - EURGBP
EURGBP continues to renew its local highs as part of an ongoing rally triggered by a breakout above consolidation resistance within a broader bullish trend.
The pair remains in a upward structure, with consolidation taking shape in the form of a bullish continuation pattern, reflecting sustained buyer dominance. Following the breakout from the ascending triangle, EURGBP extended higher toward 0.8818, where a double top formation is emerging - indicating a potential short-term correction before the next upward move.
Resistance levels: 0.8786, 0.8818
Support levels: 0.8752, 0.8721
A corrective pullback may lead the price back toward the breakout zone, allowing for liquidity accumulation and a rebalancing of market structure in favor of buyers. This, in turn, could set the stage for a renewed continuation of the bullish trend.
